Is this a made up belt or was there a Royal Signals Squadron that wore The Parachute Regiment Buckle with a Royal Signals stable belt?

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It could be a stable belt of 261 Squadron R Signals attached to 16th Air Assault Brigade and therefore they are all para trained

This Royal Signals stable belt with para buckle was used with 216 Signal Squadron, for those soldiers who took parachute training, not all of the squadron took this. I did 9 years service with Royal Signals, 6 with 2 Armd Div HQ & Signal Regiment, on detachment most of the time to various unitsWith thanks to Dave Williams

I see that you have a Parachute regiment belt with a Pegasus buckle and a Royal Signals belt with a Parachute regiment buckle. It is plain that the buckles have been swapped. 216 (Airborne) Sig Sqn wore the Signals belt with the Pegasus buckle, never a Para buckleWith thanks to Lloyd (23 years Royal Signals)